In this paper, we run through an example of oligopoly, recently introduced in the literature, where firms operate under constraints. The dynamical system describing firms’ choices over time assumes the form of a piecewise-smooth map because of such constraints. By carrying on a leading example, we show possible routes to complexity in the model, mainly due to border collision and homoclinic bifurcations.
Border Collision Bifurcations in a simple oligopoly model with constraints
LAMANTIA, FABIO GIOVANNI;
2012-01-01
Abstract
In this paper, we run through an example of oligopoly, recently introduced in the literature, where firms operate under constraints. The dynamical system describing firms’ choices over time assumes the form of a piecewise-smooth map because of such constraints. By carrying on a leading example, we show possible routes to complexity in the model, mainly due to border collision and homoclinic bifurcations.File in questo prodotto:
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